BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $90.04 Consensus PT from Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned an average rating of “Moderate Buy” from the twenty-five research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $90.0417.

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Stifel Nicolaus restated a “hold” rating and set a $61.00 price target (down previously from $73.00) on shares of BioMarin Pharmaceutical in a report on Thursday, November 6th. Truist Financial lifted their price objective on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Finally, Wall Street Zen downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st.

BioMarin Pharmaceutical Stock Up 1.0%

Shares of BMRN opened at $56.78 on Friday. The company’s 50-day simple moving average is $56.25 and its 200-day simple moving average is $55.97. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. BioMarin Pharmaceutical has a 1 year low of $50.76 and a 1 year high of $73.51. The stock has a market capitalization of $10.91 billion, a PE ratio of 21.35, a P/E/G ratio of 0.61 and a beta of 0.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.20). BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The business had revenue of $776.13 million for the quarter, compared to analysts’ expectations of $782.42 million. During the same period in the previous year, the company earned $0.91 earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts forecast that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of BioMarin Pharmaceutical by 90.7% during the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock worth $306,429,000 after purchasing an additional 2,654,768 shares in the last quarter. Capital Research Global Investors lifted its holdings in BioMarin Pharmaceutical by 547.5% during the 3rd quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock worth $137,436,000 after buying an additional 2,145,717 shares during the last quarter. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $112,352,000. Viking Global Investors LP boosted its position in shares of BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after acquiring an additional 1,488,552 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of BioMarin Pharmaceutical by 312.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,419,067 shares of the biotechnology company’s stock valued at $84,335,000 after acquiring an additional 1,074,929 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.